Judge Walt Logan’s comprehensive handling of this case inspired me when I followed up on it after reading the appellate decision over two years ago, a decision that is much misquoted by the plaintiffs bar and institutional lending industry.
One of his unerring comments which should ring clear in even the dullest of minds is MERS confession: that they, the holder of your mortgage lien, cannot accept payoff money from you.
Yet they have the right to foreclose or discharge your mortgage?
The Stentz order I obtained this past week is in dedication to Walt Logan and his vision and in great appreciation of a brilliant jurist, Judge Lynn Tepper. I only regret that it took 5 years for its plain common sense to reach the surface for all to see.
The sooner the judges of this country realize that they are not dealing with their fathers’ mortgage but some experimental “innovative” note/mortgage configuration in derogation of common law (and without the sanction of a statute approving and authorizing it), the sooner they realize that the dysfunctional results now fruiting from the disregard of application of the rule of title and conveyancing law, linked as they are to standing and joinder of all interested parties, and the sooner they realize that they do have the power and the privilege to just say no and instead insist on standards of pleading and proof to meet these complexities, in kind – to insist that title to the note and mortgage be deraigned and authority shown, then proved . . .
. . . the sooner we can begin to restore faith to all, including all the new buyers, lenders, and investors sitting on the sideline, that constitutionally protected property rights in America mean something, that they are the gold standard of the world, and that they cannot be easily taken away with incomplete proof and by conflicted third party proxies who purport to act for the owners of these loans but seem to have no regard for the law – or the multitude of their faceless masters from whom they fear no reprisal.
Greg Clark, Esq
Founder of JEDTI
Jurists Engaged in Defending Title Integrity
Greg omits salient facts about the new-fangled mortgage boondoggle.
1. Borrowers typically fund their own loans after lenders and their agents induce them fraudulently to sign false statements in the mortgage and note. The closing officer distributes hot checks which banks won’t cash till after the title company has forwarded the note and mortgage to the lender and the lender has deposited the note, then wired funds to the title company.
2. Securitization amounts to unauthorized CONVERSION of the borrower’s property, the note, and all profits from it belong to the borrower.
3. Lenders systematically pursued policies that they knew would collapse real estate values, and courts WRONGLY force foreclosure victims to shoulder the associated equity loss.
4. Thoughout Florida for at least 30 years sellers, realtors, appraisers, mortgage brokers, and lenders have conspired to cheat buyers by inflating real estate prices way beyond their actual values, universally ignoring both replacement cost and income capitalizations as vital factors in appraisal accuracy. Typical buyers pay at least 30% more than the actual value of the property because of this scam.
Judge Logan did not dig deeply enough into the mortgage scam to reveal these harsh realities that should inflame the passions of every mortgage victim, and drive foreclosure victims into a destructive rage.